NEW YORK (AP) The Brooklyn Nets have a new owner and a new CEO.
Alibaba co-founder Joe Tsai completed his purchase of the team and Barclays Center on Wednesday, then announced that he had hired former Turner Broadcasting President David Levy to oversee both.
Tsais purchase of the Nets was unanimously approved Wednesday by the NBAs board of governors. He spent nearly $3.5 billion for the team and the arena, a record sale for a U.S. sports franchise.
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